NASDAQ Halts OCZ Technology Stock

NASDAQ halted trading OCZ Technology Group, Inc this morning and it looks like no shares were traded today. It appears that news is pending about this, but we aren’t sure what it will be. OCZ is currently trading under one dollar on the index, but a delisting would come as a shock as companies receive 180 days to get the stock back over a dollar and if they can’t they can apply for an extension for an additional 180 days. Could OCZ have been acquired or worse?

Right now shares of OCZ are frozen at $0.63 and they can’t be bought or sold. It will be interesting to see if the recent rumors about OCZ being acquired by Toshiba were valid. People in the Yahoo Finance message boards are saying that the announcement will be made at after the Tokyo Exchange closes at 1pm EST. There is also talk about a strategic partnership/deal with Panasonic. It will be interesting to learn how this turns out!

UPDATE: Read the official PR here.